Asked by Jasmine
A total of $80,000 is invested in two funds paying 2.3% and 3.1% simple interest . The total annual interest is $2000. How much is invested in each fund?
Answers
Answered by
Steve
If $x is invested at 2.3%, the rest (80000-x) is at 3.1%
So, adding up the interest, we get
.023x + .031(80000-x) = 2000
So, adding up the interest, we get
.023x + .031(80000-x) = 2000
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